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Old 26.11.2012, 20:49
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OMG - Canadian to become most powerful, non-elected official in UK.

Mark Carney (former) Governor of Canadian Central Bank, is set to become the new Governor of Bank of England.

http://www.bbc.co.uk/news/business-20501990
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Old 26.11.2012, 20:54
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Re: OMG - Canadian to become most powerful, non-elected official in UK.

Womt be hard to out perform his predecessor
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Old 28.11.2012, 15:20
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Mark Carney named as new governor of the Bank of England

According to MoneyWeek.Com.....

"On Monday, chancellor George Osborne named Mark Carney, governor of the Bank Of Canada, to be Mervyn King’s successor as governor of the Bank of England.

You might feel that with a package worth £624,000 a year – more than twice as much as Sir Mervyn, and a 50% rise on Carney’s current deal – he’s a little overpaid. You might feel it’s rather hypocritical to appoint a non-national to a position like this, as well as detrimental to national confidence. You might feel that an appointment as significant as this should be subject to some kind of electoral process."

Any opinions from forum members?

PS: Re. No Briton being suitable for the job.
ZeroHedge suggested back in July, rather terrifyingly: “There is one problem regarding the domestic candidates: none of them have Goldman Sachs on their resume”.
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Old 28.11.2012, 15:51
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Re: Mark Carney named as new governor of the Bank of England

Never heard of him before but the market response was highly positive. Seems a particularly well qualified candidate and if anything this is one of the very few examples of hiring for a senior position based on (seemingly) meritocratic principles. The decision to hire an 'outsider' is brave and commendable.

I would certainly not want the electorate get involved in a vote that would effectively be a popularity contest for a role that requires deep technical abilities in a crisis of this magnitude. I don't trust the public that much. Moreover, how would this really work? People don't turn out for elections.
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Old 28.11.2012, 15:52
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Re: Mark Carney named as new governor of the Bank of England

Quote:
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According to MoneyWeek.Com.....

"On Monday, chancellor George Osborne named Mark Carney, governor of the Bank Of Canada, to be Mervyn King’s successor as governor of the Bank of England.

You might feel that with a package worth £624,000 a year – more than twice as much as Sir Mervyn, and a 50% rise on Carney’s current deal – he’s a little overpaid. You might feel it’s rather hypocritical to appoint a non-national to a position like this, as well as detrimental to national confidence. You might feel that an appointment as significant as this should be subject to some kind of electoral process."



PS: Re. No Briton being suitable for the job.
ZeroHedge suggested back in July, rather terrifyingly: “There is one problem regarding the domestic candidates: none of them have Goldman Sachs on their resume”.
Yannnnnnnnnnnn ! http://www.imdb.com/list/RulSLXfTzhQ/
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